Bed and board go bio-based

Finnish oil company Neste and Ikea of Sweden launched an initiative to take the lead in renewable, bio-based materials. The partners aim to produce plastics and other materials used today on the basis of renewable or recycled waste and residue raw materials instead of fossil feedstock. The companies will work with a number of partners in the supply chain. Partners are provided with an opportunity to address the growing market for bio-based products while utilising their existing production assets. Neste and IKEA’s goal is to produce the first proof-of-concept during 2017.

“IKEA and Neste, together with partners, can enable the production of bio-based plastics that are produced from waste and residues of the customers’ preference and choice, can be produced with the existing production assets, are fully compatible with customers’ needs, and are recyclable in the current plastics pool,” commented Tuomas Hyyryläinen, SVP, Strategy and New Ventures at Neste

“IKEA wants to contribute to a transformational change in the industry and to the development of plastics made from recycled or renewable sources. In line with our goals, we are moving away from virgin fossil-based plastic materials in favor of plastic produced from more sustainable recycled or renewable sources such as waste and residues, not using palm oil and it’s derivatives as feedstock,” says Lena Pripp-Kovac, Sustainability Manager at IKEA of Sweden.